The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.
Mortgage rates continue to ease, but demand is not following, as there are few who can benefit from a refinance, and homebuyers are still facing high prices.
Kraken, one of the world’s largest crypto exchanges, announced it is laying off 1,100 workers, or 30% of its headcount.
CrowdStrike shares fell Wednesday, a day after the cybersecurity company reported third-quarter results that said new revenue growth was weaker than expected.
In a tweet early Wednesday, Musk called on the Fed “to cut interest rates immediately” or risk “amplifying the probability of a severe recession.”
Sen. Sherrod Brown, chair of the Senate Banking, Housing and Urban Affairs Committee, urged Treasury Secretary Janet Yellen’s help after the FTX collapse.
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